New oil field discovered in Nenets Autonomous Area

RN-Nyaganneftegaz, a Rosneft subsidiary, has discovered a new oil field in the Timan-Pechora oil and gas province, Nenets Autonomous Area officials announced on their website. The deposit, named Nertsetinskoye, has 78 million metric tons of С1+С2 reserves initially in place and over 17 million metric tons of recoverable reserves.

Drilling and trials of the first prospecting and appraisal well in the Berganty-Mylsky license block of the province were finished in late 2015. The work was required to more precisely define the geology of the structure and to confirm the presence of oil and gas, as well as to outline the further exploration strategy in the region in order to expand mineral reserve resources.

RN-Nyaganneftegaz holds three licenses for geological survey and production in the Timan-Pechora oil and gas province for a total area of 4,500 sq. km.